Warrnambool's property market jumps 15.3 per cent in a year

CoreLogic head of research Australia Eliza Owen said the change in the past three months alone had been very strong, with the value of houses alone sitting at a record high for March.

The median price of a dwelling - which includes houses and units - in Warrnambool was now $454,000,while the median price for houses alone jumped 15.9 per cent to $480,000.

"So that's huge," she said.

Even in the March quarter alone, prices rose 2.8 per cent in Warrnambool, which reflects the same rise in the national market which was at a 32-year high. "This is a period of rapid price rises for regional Victoria and Warrnambool seems to be standing out as a top performer," Ms Owen said.

She said the price rises were second only to the Grampians region where prices jumped 20 per cent, but that was off a much lower base.

The Grampians area that experienced the highest growth took in places like Ararat, Stawell and Hopetoun.

By comparison, Geelong prices rose seven per cent.

Ms Owen said she was not surprised by the numbers which continued the trend across regional Victoria which started with Melbourne buyers looking to escape the city. Low interest rates had also helped to push prices higher, she said.

In March, Victoria was the only state where regional housing values rose at a faster pace than their capital city counterparts - regional values were up 2.6 per cent compared with a 2.4 per cent rise across Melbourne

CoreLogic data also showed that 100 per cent of Warrnambool sellers made a profit in the December quarter - putting the city in the top five performing local government areas in the state.

Ms Owen said that data came off the back of the sale of 151 properties and the typical profit was $130,000.

"The fact that 100 per cent of sellers are making a profit reflects just how strong the market is," she said.

The only other places in regional Australia where 100 per cent of sellers have made a profit were Mildura, Burnie and Bellingen. And while in some places 100 per cent of sellers may not have made a profit, those that did made higher profits than in Warrnambool.